Sentences with phrase «calculate area median»

Instead of a set figure for affordability, the annual review will calculate area median income and then reverse engineer what a buyer would likely be able to afford at current interest rates, assuming a 5 percent down payment.

Not exact matches

While the candidate said he would fight for more and better affordable housing, he said the first step would be to change the formula, known as Area Median Income, which calculates the price of affordable housing based on the median income of the entireMedian Income, which calculates the price of affordable housing based on the median income of the entiremedian income of the entire city.

Unlike loan limits for forward mortgages, which are calculated based on median house prices and set by Metropolitan Statistical Area and county, the loan limits for HECM reverse mortgages don't vary.

Based on the median income of households in the Vancouver area, the bank calculates that it would take 109 per cent of pre-tax income just to cover basic costs to own a house in Vancouver — mortgage payments, property tax, and utility bills.

The ranking was determined by identifying ZIP codes within the top metropolitan areas in the U.S. that contained at least one public school ranked eight out of 10 or higher by GreatSchools, then calculating affordability by factoring in the ZIP code's median income and median - priced home with monthly mortgage payment and other cost data.

Realtor.com ® ranked ZIP codes according to affordability of homes within each area, determined by calculating the monthly mortgage costs and other costs to purchase the median - priced home in the ZIP code and dividing it by the ZIP code's median income.

Home prices are calculated daily using the median price of active listings in the area.

Rent estimates at the 50th percentile (or median) are calculated for all Fair Market Rent areas.